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Session Laws, 1963
Volume 671, Page 820   View pdf image (33K)
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822                               LAWS OF MARYLAND                        [CH. 538

(3) A buyer who so revokes has the same rights and duties with
regard to the goods involved as if he had rejected them.

2609. Right to Adequate Assurance of Performance.

(1)  A contract for sale imposes an obligation on each party that
the other's expectation of receiving due performance will not be
impaired. When reasonable grounds for insecurity arise with respect
to the performance of either party the other may in writing demand
adequate assurance of due performance and until he receives such
assurance may if commercially reasonable suspend any performance
for which he has not already received the agreed return.

(2)  Between merchants the reasonableness of grounds for in-
security and the adequacy of any assurance offered shall be deter-
mined according to commercial standards.

(3)  Acceptance of any improper delivery or payment does not
prejudice the aggrieved party's right to demand adequate assurance
of future performance.

(4) After receipt of a justified demand failure to provide within
a reasonable time not exceeding thirty days such assurance of due
performance as is adequate under the circumstances of the particular
case is a repudiation of the contract.

2610. Anticipatory Repudiation.

When either party repudiates the contract with respect to a per-
formance not yet due the loss of which will substantially impair the
value of the contract to the other, the aggrieved party may

(a)  for a commercially reasonable time await performance by the
repudiating party; or

(b)  resort to any remedy for breach (Section 2703 or Section
2
711), even though he has notified the repudiating party that he
would await the latter's performance and has urged retraction; and

(c)  in either case suspend his own performance or proceed in
accordance with the provisions of this Sub-title on the seller's right
to identify goods to the contract notwithstanding breach or to salvage
unfinished goods (Section 2
704).

2611. Retraction of Anticipatory Repudiation.

(1)   Until the repudiating party's next performance is due he can
retract his repudiation unless the aggrieved party has since the re-
pudiation cancelled or materially changed his position or otherwise
indicated that he considers the repudiation final.

(2) Retraction may be by any method which clearly indicates to the
aggrieved party that the repudiating party intends to perform, but
must include any assurance justifiably demanded under the provisions
of this Sub-title (Section 2
609).

(3)  Retraction reinstates the repudiating party's rights under the
contract with due excuse and allowance to the aggrieved party for
any delay occasioned by the repudiation.

2612. "Installment Contract"; Breach.

(1) An "installment contract" is one which requires or authorizes

 

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Session Laws, 1963
Volume 671, Page 820   View pdf image (33K)
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